Complaint Review: CAS USA - Howard Beach New York
- CAS USA 155-20 79 Street, 2F Howard Beach, New York USA
- Phone: 3478067827
- Web: 144-20 79 Street, 2F
- Category: Legal Process Servers
Midland Funding LLC My wages were garnished last year. I contacted my employer to get the Garnishment letter. There was no letter. Finally, I got one last week. Midland Funding Howard Beach New York
*Consumer Comment: Question
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Last year my wages were garnished. I wasn't served with a Marshall Garnishment letter. The amount owed was $ 2505.21. The amount was paid in full last year in December. Then, another garnishment came this year. They garnished my wages again without a letter from any Marshall.
Finally, last week a got last year's garnishment letter. Midland Funding LLC was listed as creditor and Gregg E. Biensstock listed as Marshall. I have contacted Midland Funding this morning and they gave me a different phone number to call, because they couldn't release the information to me. Why is that?
If I don't hear from them, I will file a law suit against them. I am contacting the Marshall's office tomorrow to find out what is going on. I need to see the Judgement letters issued by the Civil Court on both debts they claim I owe. I will keep posted on future development in this matter. Thanks for posting a possible rip-off report to make other folks aware of these scammers. Kind Regards, Andrew Crisci.
This report was posted on Ripoff Report on 06/09/2014 03:26 PM and is a permanent record located here: https://www.ripoffreport.com/reports/cas-usa/howard-beach-new-york-11414/midland-funding-llc-my-wages-were-garnished-last-year-i-contacted-my-employer-to-get-the-1153370. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
Question
AUTHOR: Stacey - ()
SUBMITTED: Monday, June 09, 2014
In what state do you live??? I suggest you consult your State's Attorney General or Secretary of State. Most States have a requirement for third party debt collectors to register and pay a surety bond with insurance. I am sorry you are being ripped off - this company is one of the worst third party debt collection agencies and has been sued/fined so many times.
- The portfolio of accounts is sold to third party debt buyers for a huge discount off of the face value. These third party debt buyers are also known as “junk debt” buyers. Examples include Midland Funding, LVNV, Portfolio Recovery, Cach, and many, many more. Usually, the junk debt buyer buys these portfolios for 5 – 7 cents on the dollar. For example, let’s say Chase Bank has decided to sell a portfolio of charged off credit card accounts. They package 1,000 accounts into a portfolio. These 1,000 accounts have a face value of $1 million dollars. Remember, the face value is how much all the charge offs add up to be. Chase Bank sells this portfolio to Midland Funding for 5 cents on the dollar. That means Midland Funding pays only $50,000 for a portfolio of accounts with a face value of $1 million dollars. What a deal for Midland Funding! And typically, once this sell takes place, the original creditor is no longer involved with the account whatsoever.
- Junk debt buyers will sue you for the full amount and sometimes more. Just because the junk debt buyer has bought these accounts at a discount, doesn’t mean they aren’t going to try to collect the full amount owed from you. In fact, they will sometimes file lawsuits for the full charge off amount of your account and also ask the court to grant them pre-judgment interest, post judgment interest, attorneys fees and court costs.
- So what exactly does a portfolio contain? Usually the junk debt buyer receives no more than a spreadsheet with thousands of names, addresses, telephone numbers, account numbers, and charge off amounts. Basically, they receive just enough to send you letters demanding payment or to file lawsuit against you.
- Junk debt buyers file lawsuits by the thousands.
- An estimated 97% of people facing third party debt collection lawsuits do not answer the lawsuit. Therefore, thousands of lawsuits result in default judgments against consumers and the debt buyers almost never have to prove their case.
- Junk debt buyers usually do not have sufficient documentation to support the lawsuit against you. The more documentation provided with the portfolio, the more expensive the portfolio becomes. If 97% of the time, they don’t have to prove their case with documentation because consumers don’t file an answer to the lawsuit, why should they spend the extra money on obtaining account statements, credit agreements and other account documents from the original creditor?
I sued two of these junk buyers and won - one paid me and the other did not. Do not let this get away - most consumer Attorneys work on a contigency basis so get one! Please let me know what happens - you are being screwed bad and I wish for you to fight back!
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